Trading software

Wednesday, June 22, 2011

The costliest cup of coffee ever!

Those of you that know your coffee may have heard of Kopi Lewak, which is generally regarded as the most expensive coffee that money can buy. A cup of the stuff costs a whopping €50, although I can beat that. I've just had a coffee which cost me €55!

I haven't been near Betfair in ages so when I had a spare hour earlier, I thought I'd trade a few races. I had the kettle on the boil and placed €55 on Dr Finley, thinking the price would shorten. It was pretty lightly traded, the race was 2m, and the race looked like it was getting delayed so I nipped down to the kitchen to quickly grab a cup. I quickly chatted to someone on the phone and forgot about the open trade for a moment.

I ran back upstairs with the steaming coffee in hand when I realised the time - but I wasn't too worried as I thought I'd get out handy enough if the race was delayed. Not so! It was too late. It turned out to be the most expensive cup of coffee I ever made:

On a more positive note, the price of wheat fell quite a bit today. I sold it a few days ago (albeit with small stakes) and my trade is currently in the black to the tune of over €40. Not bad for my first ever wheat trade!

I've now moved my stop loss to ensure I make at least a pony (€25) on the trade but hopefully, it will continue to drop:

On another positive note, I've made my first ever withdrawal from one of my non-sports trading accounts (Marketspreads) today. Sometimes, you gotta take some profit and enjoy it so I ordered a monkey and two ponies (€550) and this will help pay off some of my holiday to Canada:

I know it's important to build up your bank but it's also important to enjoy spending some of your earnings too - when the cheque arrives, it makes the money real and it's a reminder of why you spend hours on end sitting in front of that damn screen!

(and don't tell the missus, but I may just buy some Neil Diamond tickets for Saturday with part of the money).

About Me

WAYNE Bailey was born in Dublin where he still lives with daughter. A librarian by profession, Wayne has always had a passion for betting and trading and has spent various periods throughout his life as a professional gambler. In 2007, he graduated from University College Dublin with a degree in social science and information studies and four years later, he completed a diploma in financial trading from the Irish Institute of Financial Trading. More recently, he studied psychology and the behaviour of the human mind. Wayne is a regular contributor to various newspapers and websites in the UK and Ireland, and he currently pens the Betting Ring column which enjoys a large dedicated following every Saturday in Ireland’s largest selling newspaper The Irish Independent. Wayne's book 'Sports Trading on Betfair' was published in 2014. Email: waynebaileyracing@gmail.com